Net1 International - Senior Management Change

Net1 International – Senior Management Change

Oslo, 20 November 2020 – Net1 International Holdings AS (“Net1 AS”, the “Group”, NOTC Ticker: Net1) announces that Amit Vithlani, its Chief Executive Officer, will be leaving the organization due to unforeseen personal issues. The Board of Net1 AS intends to appoint JD Fouchard as interim CEO of the Group.

“On behalf of the Board of Net1 AS, I would like to thank Amit for his contributions to the Group and especially taking the lead in securing the financing facilities. Our senior management in Indonesia will continue to build on the foundation that has been put in place,” said Trygve Lauvdal, Director.

“I want to thank Amit for his guidance and direction, he has made an indelible impact on the Group. Our objective remains to grow and continue to improve internet access in rural Indonesia.” said Andri Pranata, Net1 Indonesia’s CEO.

Net1 AS recently closed a $75.5m secured debt facility for its subsidiary, Mobile Internet Holdings B.V (“MIH”) which provided an additional $35m of new long-term funding, all expiring in 2027.

ABOUT NET1 INTERNATIONAL

Net1 International has investments in 4G LTE operations in Philippines and Indonesia.

Indonesia has a population of 261 million, and Net1 Indonesia has a total 15MHz of bandwidth on the LTE-enabled 450MHz band.

Philippines has a population of 104 million, and Net1 Philippines now has a spectrum portfolio consisting of: 20 MHz bandwidth on the LTE-enabled 450MHz frequency in addition to the 20MHz it owns in the 3.5GHz band. It also owns 200MHz on the 24450MHz-24650MHz band.

ENDS